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View Poll Results: Are you keeping track of gasoline use for tax deductions | |||
Yes, I have for awhile now | 10 | 41.67% | |
I just started with the prices so high | 0 | 0% | |
I'm looking into it/thinking strongly about it | 0 | 0% | |
I don't use any/or enough to matter | 7 | 29.17% | |
**** you & the gas guzzler you rode in on with OBL earwax as a lube | 7 | 29.17% | |
Voters: 24. You may not vote on this poll |
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05-07-2011, 12:29 AM | #2 |
**** SOC & **** YOU
Join Date: Jan 2006
Location: Chiefs Hell
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debtfree?
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05-07-2011, 01:35 AM | #3 |
Meow
Join Date: Jun 2005
Casino cash: $10005050
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And this is useful to exactly who? For most people it's not, because before it even becomes relevant you have to be driving quite a bit for business(commuting to and from work never counts) or you have to be driving quite a bit for medical expenses. Even then, if your car gets anything above absolutely shitty gas mileage, you're likely better off with the standard mileage rates UNLESS you have major repair bills and you used your car for business/medical for a significant portion of it's use that year.
So next time how about you give some context instead of just asking a question out of your ass.
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05-07-2011, 01:37 AM | #4 | |
legend
Join Date: Oct 2006
Location: Independence, MO
Casino cash: $-1557903
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Quote:
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Posts: 28,373
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05-07-2011, 07:02 AM | #5 |
Supporter
Join Date: May 2005
Location: Who knows?
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Every penny, mile, and gallon is accounted for in a ledger inside of every one of my work vehicles.
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Posts: 83,362
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05-07-2011, 07:06 AM | #6 |
Court Jester
Join Date: Aug 2000
Location: Orlando
Casino cash: $3092400
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I was forced to work out of town for the last 3 months of last year and the 1st three months of this year and was driving 2200 miles a week. The deduction helps but out of about $5000 I spent on gas in 3 months, I got maybe a thousand extra back on my taxes.
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05-07-2011, 09:47 AM | #7 | |
Banned
Join Date: Jan 2011
Location: floatin cobwebs n the sky
Casino cash: $10004900
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Quote:
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05-07-2011, 10:06 AM | #8 | |
The 23rd Pillar
Join Date: Sep 2002
Casino cash: $10019237
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Quote:
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05-07-2011, 11:03 AM | #9 |
I got Rice cookin in the micro
Join Date: Nov 2003
Location: Apartment "G UNIT!"
Casino cash: $3132136
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I counted every mile last year I drove to work, praying to God I would get some money back. After I got done eating at applebees and getting my taxes done at Liberty tax they informed me that it wouldn't apply. ****ed up world we live in
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05-07-2011, 11:05 AM | #10 |
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Join Date: Dec 2002
Casino cash: $57166239
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If you guys are deducting mileage driven to/from work, you better not get audited.
There are not many people for whom this applies. Say you drive to your work or business (not deductible), and then after you hypothetically "punch in", your work or business requires you to drive around your car, yeah that is deductible. Driving back home is not. There are some exceptions. If your job requires you to drive a tremendous amount of miles to a work site, usually temporarily or very occasionally (say you have to drive 500 miles a few times a year to some regional office or whatever), that can also be deductible. Thats obviously not a normal commute. Some people who tried to get creative have also gotten nailed. Specifically, some thought they found a loophole when they make a phone call in the morning on a multi-level marketing business, then drove to work arguing they are driving from their first job to the second job, that doesn't fly. Driving from a work-at-home job to another completely unrelated job also counts as non-deductible commuting.
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Last edited by alnorth; 05-07-2011 at 11:17 AM.. |
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05-07-2011, 11:13 AM | #11 |
MVP
Join Date: Sep 2003
Casino cash: $10004900
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If you own the business talk to your accountant about selling your car to your company, then having the company provide your car back to you as a perk or incentive. Then you don't need to track the mileage.
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05-07-2011, 02:25 PM | #12 |
Don't Tease Me
Join Date: Dec 2000
Location: KS
Casino cash: $11047037
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05-08-2011, 12:36 AM | #13 |
Banned
Join Date: Jan 2011
Location: floatin cobwebs n the sky
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Dick Content
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05-08-2011, 12:59 AM | #14 |
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Join Date: Dec 2002
Casino cash: $57166239
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Probably not DC, but that last remark was probably a bit harsh.
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05-08-2011, 08:12 AM | #15 |
Veteran
Join Date: Jan 2006
Location: Undercover.....
Casino cash: $8332638
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If your car is a perk or incentive, are you required to show that as 3.00 per day income on your W2? I'm probably answering my own question....but that would mean that the company would pay for gas? Right?
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